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Last year's spike in the price of ethanol blending credits cost independent refiners at least $1.35 billion, more than three times as much as the year before, according to a Reuters' review of securities filings. The tally, which has not been previously reported, is a conservative estimate as it includes only nine refiners that disclosed the figures. Others affected did not specify the cost of buying Renewable Identification Number, paper credits used to meet quotas for blending biofuel into gasoline and diesel.

General Motors chief executive for just two months, Mary Barra already is facing a massive crisis involving the recall of more than three million vehicles, 12 related deaths and revelations the automaker knew about the defect for a decade. Now she’s set to testify before Congress, a theater of the absurd that could prove the ultimate test of how well she weathers this early challenge. Barra released a series of videos – first to employees taking responsibility and five more answering commonly asked questions such as is my car safe to drive. She has launched an internal investigation, sat with reporters for face-to-face interviews and listened in on customer service calls. Now she is heading to Washington to testify before a House Energy and Commerce subcommittee on Tuesday and a Senate Commerce Committee panel on Wednesday.